Canola – Marketing Plan Update – August 26th, 2013 #westcdnag #canola

August 26, 2013 – J-MAS is 30% sold new crop Canola (about 13 bushels of a 42 bushel crop) with an $11.69 sales average.

Big overnight move on South American frost and very poor US weather conditions for Beans during key filling stage. Funds also look to be getting back in as volumes were very, very high overnight. It’s probably an understatement to say that this was a game changer though Beans have been moving categorically higher for two straight weeks. On the other hand … Canola crop is likely to be massive. Our own yields are all very high in areas where we thought 40 would be a struggle and we haven’t gotten yields from other local areas that saw better moisture levels. So we must sell into this rally as it will be a while before the S&D pencils need sharpened. We still see better things in the new year, but much of that could be happening right now as passive buyers might have to get aggressive now and this will curtail the demand picture we saw developing through the 2nd half of the marketing season.